It is important to be agile around geopolitical developments, says Continental CFO
Olaf Schick, CFO of Continental, discusses first-quarter earnings and the auto industry with CNBC.
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CNBC
2 hours ago
- CNBC
CCTV Script 11/08/2025
This year, driven by the wave of artificial intelligence, a new generation of billionaires is rapidly emerging worldwide, particularly in Silicon Valley, USA. Experts interviewed by CNBC pointed out that the current AI boom is swiftly becoming one of the largest wealth-creation waves in modern history. Several massive funding rounds this year have skyrocketed the valuations of startups like OpenAI and Anthropic. According to data from the global market research platform CB Insights, there are 498 AI "unicorn" companies globally—referring to unlisted AI companies valued at $1 billion or more. Their total valuation? It has reached a staggering $2.7 trillion, with a full 100 of these companies founded after 2023, indicating that many of them are still quite young. Notable examples include: Mira Murati, the former Chief Technology Officer of OpenAI, left her position in September last year and founded a new company, , in February this year. In less than half a year since its inception, the company secured $2 billion in seed funding in July, reaching a valuation of approximately $12 billion. Meanwhile, another AI startup, Anthropic AI, is reportedly in talks for a new funding round of $50 billion, which could push its valuation to $170 billion. According to sources familiar with the matter cited by CNBC, the company's CEO, along with its six co-founders, are now likely among the ranks of billionaires. Beyond the funding frenzy in AI startups, the stock prices of AI-related tech giants like NVIDIA, Meta, and Microsoft have also soared in the secondary market. Additionally, companies involved in building data centers and computing infrastructure have seen significant profit growth, while the salaries of AI engineers have surged in tandem. Among the rising stars in this wave of tech innovation, OpenAI's CEO, Sam Altman, has undoubtedly captured the most attention. Recently, OpenAI unveiled its latest model, ChatGPT-5, marking another significant leap in AI development. It's been just a weekend since the model's release, and it has already sparked polarized reactions across the industry and the general public. On one hand, industry insiders remain optimistic. "GPT five is a breakthrough in being able to work through that information, not only quickly, but now with a way greater degree of accuracy." On the other hand, American netizens have expressed significant dissatisfaction with the new model. On the popular U.S. forum Reddit, a post titled has garnered nearly 6,000 upvotes, with many users complaining that GPT-5's performance is inferior to older models. It's worth noting that OpenAI has yet to turn a profit. Regarding this, Sam Altman has stated that he remains focused on growth and is unbothered by losses. "I think we should be willing to keep growing, to keep investing in training compute for a long time...I think the rational thing to do is to just be willing to run at a loss for quite a while and continue to do that..." Finally, from the broader AI industry perspective, CNBC's latest All America Economic Survey reveals a complex public sentiment. While the capital markets are optimistic, the American public harbors mixed feelings about AI. On one hand, over half of respondents reported using AI tools, but they also expressed wariness. The survey shows that 53% of American respondents have used AI software in the past 2–3 months. However, when it comes to their attitude toward AI, 68% admitted feeling uneasy, primarily due to concerns about AI's impact on jobs.
Business Insider
2 hours ago
- Business Insider
Jefferies Sticks to Its Buy Rating for XD, Inc. (2400)
In a report released today, Thomas Chong from Jefferies maintained a Buy rating on XD, Inc., with a price target of HK$67.50. The company's shares closed last Friday at HK$71.90. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. According to TipRanks, Chong is a 5-star analyst with an average return of 9.9% and a 54.14% success rate. Chong covers the Communication Services sector, focusing on stocks such as Tencent Music Entertainment Group, Cloud Music Inc., and XD, Inc.. In addition to Jefferies, XD, Inc. also received a Buy from CLSA's Sally Chan in a report issued on August 4. However, on August 6, Citi maintained a Hold rating on XD, Inc. (HKEX: 2400). The company has a one-year high of HK$74.50 and a one-year low of HK$17.70. Currently, XD, Inc. has an average volume of 3.63M.
CNBC
3 hours ago
- CNBC
European markets set to start the week positively as trade landscape remains in focus
Waterloo Bridge, in front of St. Paul's Cathedral, on March 24, 2025, in London, United Kingdom. John Keeble | Getty Images News | Getty Images Good morning from London, and welcome to CNBC's live blog covering all the action and business news in European financial markets at the start of the new trading week. Futures data from IG suggests a generally positive open for European indexes, with London's FTSE 100 seen opening slightly higher, France's CAC 40 up 0.2% and Germany's DAX up 0.3%, and Italy's FTSE MIB 0.5% higher. Global investors will continue to keep an eye on the tariff landscape this week with a focus on whether the Aug. 12 deadline for the U.S.-China tariff truce will be extended. Asia-Pacific markets were subdued overnight as a result. Meanwhile, U.S. stock futures inched higher Sunday night, with the market once again on the cusp of all-time highs ahead of a week of key inflation reports. The consumer price index, which is set to be released Tuesday, and the producer price index, due out Thursday, will be critical in shaping the outlook for the direction of interest rates, especially in the Federal Reserve's September meeting. Hotter inflation prints could hinder the market's advance, however. — Holly Ellyatt, Sarah Min
